Senegal has taken an important step towards its energy transformation ambitions by signing a $2.7 billion Just Energy Transition Partnership (JET-P) contract with G7 nations and the European Union (EU). The agreement intends to help Senegal achieve its goal of increasing the amount of renewable energy in its energy mix to 40% by 2030. The JET-P will unlock financial support from France, Germany, the EU, the United Kingdom and Canada, totaling $2.7 billion over a
Angola’s Institute for Management of State Assets and Stakes (IGAPE) has indicated that the Government plans to complete the privatization of the country’s National Oil Company (NOC) Sonangol by 2026. The privatization process will be carried out in several stages and will result in the Government’s divestment of its 30% stake in the NOC. The announcement was made by IGAPE Chairperson Patrício Vilar on 21 June. The sale of government shares in Sonangol initially began
Tanzania is set to sign a Host Government Agreement (HGA) with energy majors Shell, Equinor and ExxonMobil for the country’s $42 billion liquefied natural gas (LNG) development in July, according to Felchesmi Jossen Mramb, Permanent Secretary in Tanzania’s Ministry of Energy. The HGA will outline the rights and obligations of the government and national oil company as well as the conditions under which the onshore project will be developed and operated. In addition to signing
The Democratic Republic of the Congo’s Hydrocarbons Minister Didier Budimbu and his Angolan counterpart Diamantino Pedro Azevedo have agreed to sign the Memorandum of Understanding (MoU) for the development of Block 14 on July 13 in Kinshasa. The signing of the MoU will formalize the Block’s ownership, with the DRC and Angola set to take a 30% share while global energy major – and operator of the block – Chevron will own a 40% stake, and follows
Angola’s Minister of Energy and Water João Baptista Borges conducted a visit to the province of Cabinda to verify the progress of water and energy projects underway while assessing services delivery in the region. During the visit on May 26, the minister explored construction works at the 145 MW Malembo Thermal Power Station as well as the project’s readiness to help the province improve energy distribution services and eliminate electricity supply deficits which has caused
President Mokgweetsi Masisi of Botswana has again taken aim at the longstanding partnership with diamond giant De Beers, launching a scathing attack and vowing not to settle for anything less than an improved agreement. The current deal, set to expire next month, grants Botswana a 25% share of rough diamonds mined under the partnership, while De Beers retains the majority. Negotiations for a pact renewal are underway, with Botswana pushing for a higher stake in
De Beers Sightholder Sales South Africa (DBSSSA) has unveiled its new rough diamond sorting, valuation and sales facility in Johannesburg. De Beers Group announced in January 2023 that it was relocating its Sightholder Sales activities in South Africa from Kimberley to Johannesburg following a review of its sorting activities in South Africa. The relocation supports the government’s strategy to consolidate the country’s mineral beneficiation sector into one area at the Gauteng Industrial Development Zone. The relocation
The Mozambican economy could grow around 8 percent in 2024, strongly influenced by the exploitation of liquefied natural gas, according to projections by the International Monetary Fund (IMF). The organization indicates that the economic prospects are based mainly on growth of 4.5 percent and 5 percent recorded in 2022 and 2023, respectively, higher than the regional average of 3.5 percent in the last two years. The information was provided in Maputo by the IMF representative
Angola’s National Diamond Trading Company (SODIAM) raised US$21.7 million from the sale of 1,206.91 carats in the sixth rough diamond special stone auction held in Luanda. The company stated that the special rough diamond stones come from Sociedades Mineiras do Catota, Chitotolo, Kaixepa, Lulo, Luminas, Lunhinga, Uari, and Cooperativa Moquita in an online statement. “Despite the current market situation, characterized by high stocks of polished diamonds and a shortage of liquidity, the total net value
Angola intends, by 2050, to make the national non-oil sector worth four times more than the oil sector, said in the Minister of State for Economic Coordination in Luanda Yesterday 20th May. Manuel Nunes Júnior presented the public consultation project of the “Long-Term Strategy Angola – 2050”, which until mid-June will be available to the public for the collection of contributions and improvements to the document. According to the minister, as the Government reduces its
